Trends

Pain At The Pump: The Economy of Oil

At under $3 a gallon, gasoline is still far from its peak in the summer of 2008 (an average $4.11 for a gallon of regular unleaded, according to AAA). But if you’re still feeling like you’re bleeding dollar bills at the pump, you’re hardly alone. Just ten years ago, filling up the tank would have barely cost you $20. But enough reminiscing. To get a better idea of why oil prices are where they are today — and why they may continue their upward climb this summer — take a look at our latest infographic. Click on the icons to the left to see the impact of various events, starting with the terrorist attacks of September 11, 2001 — and how gasoline prices moved compared with the economic factors that impact them most: the price of crude oil, U.S. consumption, oil imports and exports.

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